The market has had a smart opening but hasn't been able to sustain itself at higher levels and has ended the day mildly in negative territory. Capital Goods, Consumer Durables, FMCG, Pharma and Auto have ended positive in varying degrees while Banks, IT, Metals, Oil and PSU's have ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed positive.
Sensex (Daily)
Last Close - 12030.30 | Support - 12000, 11931 | Resistance - 12100, 12200
Trading Range - The Sensex opened at 12053.90, moved up to an intra-day high of 12102.00, declined to an intra-day low of 11860.35 and closed at 12030.30.
Review/Outlook - The Sensex has once again created history to post a fresh all time high but has also given a downward key reversal on the daily chart on higher volume which is a cause for some concern. The outlook continues to remain positive, as the bigger picture remains quite solid while the intra-day picture seems to have stagnated once again indicating the possibility of a range bound movement while intra-day action could come in above the 12102 or below the 11860 level.
Ansal Infra. (Daily)
Last Close - 905.75 | Support - 900, 850 | Resistance - 950, 999
Trading Range - The scrip opened at 905.75, moved up to an intra-day high of 905.75, declined to an intra-day low of 869.80 and closed at 905.75.
Review/Outlook - The scrip has reflected strength by moving up virtually from open to close and with the indicators looking positive, a further upside seems to be on the cards.
Murud. Ceram. (Daily)
Last Close - 121.80 | Support - 117, 088 | Resistance - 131, 149
Trading Range - The scrip opened at 116.00, moved up to an intra-day high of 121.80, declined to an intra-day low of 115.65 and closed at 121.80.
Review/Outlook - The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.
Millars India. (Daily)
Last Close - 049.50 | Support - 049, 039 | Resistance - 054, 066
Trading Range - The scrip opened at 044.95, moved up to an intra-day high of 049.50, declined to an intra-day low of 044.95 and closed at 049.50.
Review/Outlook - The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.
Rel. Ind. Infra. (Daily)
Last Close - 461.05 | Support - 415, 370 | Resistance - 484, 525
Trading Range - The scrip opened at 461.05, moved up to an intra-day high of 461.05, declined to an intra-day low of 433.90 and closed at 461.05.
Review/Outlook - The scrip has reflected strength by moving up virtually from open to close and with the indicators looking positive, a further upside seems to be on the cards.Daily Stock Track
|
Scrip |
Support |
Last Close |
Resistance |
Trend |
|
ACC |
950, 900 |
961.55 |
1000, 1100 |
Up |
|
DR. REDDY |
1466, 1400 |
1481.20 |
1500, 1589 |
Up |
|
HLL |
281, 266 |
284.80 |
295, 305 |
Up |
|
INFOSYS |
3250, 3155 |
3296.20 |
3453, 3600 |
Up |
|
ITC |
190, 180 |
200.05 |
210, 225 |
Sd |
|
RIL |
950, 900 |
974.30 |
1000, 1050 |
Up |
|
SATYAM |
770, 752 |
808.15 |
810, 830 |
Sd |
|
SBI |
900, 871 |
920.40 |
926, 950 |
Td |
|
T MOTORS |
950, 900 |
977.65 |
999, 1050 |
Sd |
|
TISCO |
605, 550 |
654.55 |
700, 800 |
Up |
GLOSSARY : CMP -- Current Market Price, MACD -- Moving Average Convergence Divergence, RMI -- Relative Momentum Index, RSI -- Relative Strength Index, ROC -- Rate of Change, EMA -- Exponential Moving Average, Cls -- Closing Price, Support -- Level where buying can be expected, Resistance -- Level where selling can be expected, Tu -- Turning Upwards, Td -- Turning Downwards, Sd -- Sideways, Up -- Uptrend, Dt -- Downtrend, Ob -- Overbought, Os - Oversold.
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Sebi Disclosure: The author is an active market participant and could be having positions in the stocks mentioned above.
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